02 Aug When will solar panels become cost effective?
Solar panels are a great solution for clean energy, and they can lower your energy costs over time. Exactly how long will it take for you to see a return on your investment if you decide to go solar? That depends on a number of factors. We asked solar experts to share their thoughts on the cost-effectiveness of solar. Here’s what they had to say:
Alison Montgomery is a Content Writer for Sunpro Solar. Sunpro Solar was ranked #11 in U.S. Solar Panel companies by Solar Power World in 2018. We install high-quality solar panels and micro-inverters throughout the Southeastern U.S.
The idea that solar panels are too expensive for the average person to invest in is a common misconception. Perhaps in the early 2000s this might have been true, but today solar panels are quite inexpensive. Thanks to reduction of manufacturing costs, healthy market competition, and greater interest in renewable energy, the price of solar panels has been steadily growing lower each year. In the past 10 years alone, solar panels costs have dropped by more than 70%.
If you can afford your electric bill, you can afford solar panels. With options such as $0 down financing, you can invest in solar panels and lower your electric bill. And once the solar panels have paid for themselves, you get decades of free electricity. With the 30% Federal Solar Tax Credit, and state and local incentives to go solar, installing a solar panel system is exceptionally cost-effective.
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